Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

South Sydney

Often compared against some of the greatest cities in the world, Sydney boasts great employment opportunities, stunning beaches and diverse cultural offerings.

The city&rsquo;s southern suburbs are undergoing great transformation, delivering a family-friendly atmosphere, budding gentrification and affordable housing.

Two of Michael Yardney&rsquo;s top 15 suburbs to invest in this year are located in the region, Bexley and Kogarah, displaying the great investment opportunities on offer for homebuyers, investors and downsizers.

With many brand-new developments now on the market, Urban takes a look at five new one-bedroom apartments available in Sydney&rsquo;s southern suburbs under $599,000.

1. Bloom Arncliffe 
Address: 213 Princes Highway, Arncliffe NSW 2205 
One-bedroom apartments from $595,000

[smartcode_project:default project_id=6201 project_image_fid=89013]

Situated in Sydney&rsquo;s south, Bloom boasts a collection of 318 residences in one, two and three-bedroom configurations.

Developed by Wingate, the project spans seven buildings and features ground-floor restaurants and retailers for the convenience of residents, as well as views over Botany Bay and private entertaining balconies.

Each apartment, designed by Stephen Bowers Architects, offers floor-to-ceiling windows, a dedicated study room, and the latest appliances.

2. Kogarah Grand 
Address: 78 Regent Street, Kogarah NSW 2217 
One-bedroom apartments from $599,000

[smartcode_project:default project_id=13642 project_image_fid=154104]

Delivered by Modern Developments, Kogarah Grand offers all of the vibrancy and convenience of urban living with a selection of one, two and three-bedroom apartments.

Situated in the heart of Kogarah village, the apartment building is immersed in a transforming community with renowned beaches, retail centres and great schools.

The architecturally designed building features floor-to-ceiling windows, views across Monterrey and Brighton-Le-Sands, and spacious living rooms.

3. Slate Caringbah 
Address: 2-4 Hinkler Avenue, Caringbah NSW 2229 
One-bedroom apartments from $575,000

[smartcode_project:default project_id=7724 project_image_fid=26030]

Set over five floors, Slate is the newest south Sydney offering from developers Bexgrove.

Designed by PSEC Project Services, the project features one, two and three-bedroom apartments with private courtyards, native landscaping and premium finishes.

Carefully designed, the project boasts a north-east facing fa&ccedil;ade, bold geometric architecture, spacious open-plan interiors and a stylish integration of natural materials.

Slate delivers residents an idyllic lifestyle in an exceptional beachside location, with a rare combination of coastal amenity and central living.

4. The Mitchell, Jannali 
Address: 11-15 Mitchell Avenue, Jannali NSW 2226 
One-bedroom apartments from $565,000

[smartcode_project:default project_id=7393 project_image_fid=44135]

Located in the tranquil Jannali, the Mitchell is moments away from local offerings and Cronulla&rsquo;s vibrant beach culture.

Delivered by Truland, the complex features a collection of one, two and three-bedroom residences that boast contemporary living at an affordable price.

A sophisticated design defines this project, with stone finishes, landscaped greenery and open-plan living.

The homes, designed by PBD Architects, also feature sunlit terraces, floor-to-ceiling glass and views of Jannali&rsquo;s natural surrounds.

Sydney's southern suburbs are undergoing great transformation, delivering a family-friendly atmosphere, budding gentrification and affordable housing

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July 2021: Four brand-new apartments in South Sydney under $599,000

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The south, like the rest of Sydney, had a strong end to 2019 after a sluggish start to the year, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.
"We are expecting property prices to continue to increase in 2020 across all property types and price points. Current levels of stock on the market continue to be below average, although are likely to increase as the year progresses," the valuation firm stated. 
In the Domain Livable Sydney study released in November last year, a number of suburbs in the Sutherland Shire made it into the top 100 suburbs with Jannali (13th) and Sutherland (18th) mixing it with some very well-known prestige harbourside suburbs at the top of the list.
"Median prices in the Sutherland Shire region dropped more than the Sydney average during the decline, however there is already evidence that property prices have rebounded quickly since the federal election last May," the valuation firm said. 
A property at <a href="https://www.realestate.com.au/sold/property-house-nsw-jannali-129721090" target="_blank">21 Charles Place, Jannali</a> (pictured below) sold in May 2019 for $1.195 million after 187 days on the market.
The property resold in the same condition in November after just 11 days on the market for an undisclosed price slightly above $1.3 million, representing a 10 percent increase within a six month period.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/10/jannali.jpg" alt="">
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There still appears to be some good opportunities with a number of suburbs along the railway line having a median house price at or below the million dollar mark, according to realestate.com.au data. 
Engadine ($900,000), Sutherland ($962,000) and Loftus ($980,000) have median house prices below $1 million, whilst Kirrawee ($1,007,500) and Jannali ($1.010 million) sit just above that mark.
These suburbs already enjoy a railway station with travel times of less than 40 minutes to the CBD during peak times and longer term will benefit from Stages 2 and 3 of the F6 Extension, should they be given the green light by the New South Wales state government.
In the St George area, Riverwood ($879,000), Narwee ($985,000) and Arncliffe ($1.005 million) provide a similar opportunity to purchase near a railway station in this price range. 
Adjacent to Sydney Airport and the M5 Motorway and only 11 kilometres from the CBD, Arncliffe provides an affordable alternative to its neighbouring suburbs including Banksia ($1.065 million), Rockdale ($1,080,500), Tempe ($1,117,500) and Bardwell Valley ($1.15 million).
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The report notes the Sutherland Shire experienced a spike in new unit development completions over the past 12 to 18 months. 
This caused an oversupply of units, particularly along the corridor between Kirrawee and Caringbah, which put downward pressure on both prices and rents. 
In September last year, a two-bedroom, two-bathroom unit in a complex at <a href="https://www.realestate.com.au/sold/property-house-nsw-miranda-105528387" target="_blank">9 Urunga Parade, Miranda </a>(pictured below) sold for $700,000 after originally being purchased off the plan in April 2017 for $719,040.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/10/miranda.jpg" alt="">
"Whilst this type of product does still need to be treated with some caution, the drop off in supply of new units currently under construction will allow demand to begin to catch up and we expect prices in this market to begin to improve in 2020 as well," the valuation firm stated. 
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j.ballantyne1990-6AQqhLzZaK

South Sydney property prices expected to continue growing in 2020: HTW residential 

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The South Sydney industrial property market is undergoing an internal makeover, as warehouses are being converted throughout the Alexandria region to higher end functional buildings.
According to Edward Washer, Director, Head of South Sydney, Industrial and Logistics at Savills Australia, given its prime location to the CBD, airport, Eastern Suburbs and Inner west, South Sydney’s typical industrial buildings/sites are being adaptively converted into commercial, retail and residential.
Mr Washer said, “recent examples include 29-31 O’Riordan Street, Alexandria – an industrial building which has undergone a full refurbishment into a retail/commercial precinct and is home to Meat Emporium, Liquor Emporium, and more uniquely, Notaras Seafood restaurant."
“It’s not often a restaurant is built inside a warehouse, but if you look at what The Grounds of Alexandria did to their fit out space, it’s no surprise this is the way of the future for city fringe industrial warehouses, he added"
Another example includes 37-41 O’Riordan Street, Alexandria (City Close) – a traditional modern industrial estate going through adaptive refurb for commercial style tenants due to the demand, with the head offices of Koala Mattresses signing a 5 year lease and Dimeo Cleaning signing a 1 year.
Hayesbury, at 5 Hayes Road, Rosebery, is a traditional older style industrial site that Goodman are refurbishing into a high-end commercial space. Under construction at the moment however no tenants yet to commit.
The first property in 2020 to hit the market for sale is 1 Gillespie Avenue, Alexandria, a circa 20 year old industrial warehouse with a portion refurbished to a creative office, done so by the current tenant and fit out company, Intermain.
According to exclusive sales agents, Edward Washer and Sam Wallace of Savills Australia, the freestanding warehouse is a rarity in this market and is likely to be snapped up by either high net worth privates, property funds or institutions.
Edward Washer, Director, Head of South Sydney, Industrial and Logistics at Savills Australia said, “this is an extremely unique, flagship property and is on trend with what we have seen over recent years; warehouse conversions to office, retail, showroom or higher and better uses/occupiers."
“The strong tenant covenant adds further depth to the property’s appeal, given the reputation of Intermain and quality of the fit out” he said.
The holding, 1 Gillespie Avenue, Alexandria, is for sale via expressions of interest closing April 1 2019.
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South Sydney warehouse conversions perform strongly: Savills

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EXPERT OBSERVATION
Connecting one of the missing links in Sydney’s motorway network is a step closer to delivering benefits to the residents and businesses of Sydney’s south and the Illawarra.
From tomorrow, companies vying to build the underground motorway from Arncliffe to Kogarah, now known as M6 Stage 1, can express their interest in a project expected to create 5,300 jobs throughout its life.
Premier Gladys Berejiklian said the M6 Stage 1 would make journeys easier and safer by avoiding roads such as President Avenue and The Grand Parade – and save motorists up to 15 minutes in traffic.
“Once complete, the new M6 will provide significant time travel savings for Sydney’s south and the Illawarra. More than 2,000 trucks a day will be removed from local streets and 23 sets of traffic lights bypassed,” Ms Berejiklian said.
The M6 Stage 1, previously known as the F6 Extension, includes four kilometre twin tunnels between the new M5 Motorway at Arncliffe and President Avenue at Kogarah.
Roads Minister Andrew Constance said the M6 Stage 1 would provide relief for motorists around Kogarah and Brighton-le-Sands.
“That’s why we are pleased to be moving forward with this congestion-busting infrastructure which will help get commuters home with their families sooner and spend less time stuck in traffic,” Mr Constance said.
Travel-time savings during the morning peak (when used with other motorway connections) include:
1. Kogarah to ANZAC Bridge – up to 15 mins 2. Miranda to Macquarie Park – up to 15 mins 3. Kogarah to South Sydney – up to 13 mins  4. Taren Point to Mascot – up to 12 mins  5. Kogarah to Sydney CBD – up to 8 mins
It is expected that a contract will be awarded in December 2020, construction will begin by early 2022 and open to motorists by the end of 2025.
CHRIS JOHNSON is the CEO of the Urban Taskforce
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cjohnson-8xfqfuuCSq

Sydney's South on the move with the new M6: Chris Johnson

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Sutherland and Sydney inner south-west regions continued to witness median house prices declines, according to the latest Herron Todd White (HTW) residential report.  
According to Corelogic, Sydney has six of the 10 sub-regions which have shown the largest decline in dwelling values in the year to April.
Two of those are in Sydney’s south with the Sutherland and inner south-west (St George and Bankstown) areas showing 12.2% and 14.9% decline in dwelling values in the 12 months to April.
The Bass Hill/Georges Hall (-19.4%), Panania/ Milperra/Picnic Point (-18.9%) and Revesby (-18.5%) regions appear to have experienced the biggest declines during this period, according to CoreLogic data.
These suburbs continued to experience declines in their median house prices during the first quarter of 2019 of between 1.2% (Picnic Point) and 5.6% (Revesby), with only Milperra bucking the trend with a slight 0.5% increase in its median house price (source: realestate.com.au).
<a href="https://www.propertyobserver.com.au/images/2019/6/19/southern%20syd.jpg" target="_blank">Click here</a> to enlarge: 
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In the Sutherland Shire, Miranda/Yowie Bay has been listed as one of the poorer performing regions in Sydney with a median drop of 17.8% in the 12 months to April.
"Miranda has had a recent increase of units flooding the market with a few large unit developments reaching completion this quarter," the HTW report noted. 
Real estate agents have noted that this has also affected the rental market with a larger number of units all available for rent at the same time.
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A new two bedroom apartment situated in the heart of Miranda has been listed for lease from $550 per week. 
The apartment at 10 Pinnacle Street (pictured above) comes with open plan living, two oversized bedrooms, gourmet kitchen and private balconies with district views.
Other features include ducted air conditioning, oversized bathrooms, and single allocated car spaces plus storage cafe.  
"Not all suburbs and property types are seeing a decline however," the HTW report said. 
"The Cronulla housing market has remained stable for the March quarter at $2.25 million."
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/19/cronulla%201.jpg" alt="">
A four bedroom Cronulla house with a 15 metre frontage was sold for $2.1 million in March.
Occupying a 645 square metre level parcel, the single level home at <a href="https://www.realestate.com.au/sold/property-house-nsw-cronulla-130426482" target="_blank">13 Kirkwood Road</a> (pictured above) comprises three bedrooms, optional 4th bedroom or study, separate lounge and dining rooms, and covered timer deck overlooking the yard. 
It's close to an array of local amenities including schools, golf courses, shops and transport, and just minutes away Wanda Beach. 
The Cronulla unit market however has dropped from a median price of $900,000 in December 2019 to $875,000 in March 2019, according to realestate.com.au.
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A current listing is a two bedroom beachside apartment priced at $749,000.
Set within a small complex, the apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-cronulla-131178666" target="_blank">6/20 Ewos Parade </a>(pictured above) comprises two bedrooms, kitchen with breakfast bar, combined living and dining room, and north facing balcony. 
It is close to local shops, parks and transport.
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Sutherland housing values decline sharply: HTW residential

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A vacant block of land at Menai in the Sutherland Shire has sold for $955,000, going backwards on its sale last year.
The 818 sqm building block in Anderson Ridge, one of the Shire's new estates, fetched $980,000 in 2017.
Joshua Singer from Purplebricks sold the property this time round after seeking $1.05 million. It took 111 days to sell, with the price revision to $1.02 million prompting a sale.
The block at<a href="https://www.realestate.com.au/sold/property-residential+land-nsw-menai-202038382" target="_blank"> 39 Anderson Place</a> has a rear-to-north aspect and sits nearby Menai's entertainment hub and Alford’s Point.
The southern Sydney block lies near the Georges River National Park.
The precinct is surrounded by bushland and waterfront reserve. The land sold for $640,000 in 2015 when bought from the developer.<a href="https://www.propertyobserver.com.au/http://raywhitemenai.com.au/properties/sold-residential/nsw/menai-2234/land/1701806" target="_blank"> </a>
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Loss taken on Menai dream home building block resale 

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Like other parts of Sydney, investor demand has declined in recent months in Southern Sydney, while home owners are generally remaining active in the market, according to the valuation firm Herron Todd White.
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First home buyers generally budget up to $1,000,000, which generally restricts property options to units, villas and townhouses. 
There are a number of new unit developments in the Sutherland Shire which are attractive for rst home buyers including those at Woolooware Bay and the South Village development currently under construction at Kirrawee. 
For the latter, 1-bedroom units are selling off the plan for between $600,000 and $700,000, and 2-bedroom units for between $680,000 and $900,000, HTW noted.
First home buyers, downsizers and young professionals were prominent in the successful sales weekend of Crest at Woolooware Bay.
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Upsizers and families require a budget of $1 million up to $3 million in more popular beachside and riverside suburbs. 
Duplex properties are becoming increasingly attractive, allowing a more affordable option of a good sized modern home on a smaller low maintenance block of land. 
The valuation firm noted a sale at 32B Carabella Road, Caringbah, which sold for $1.562 million in August, comprised a new two storey semi- detached duplex with 4-bedrooms, 2-bathrooms and 1-car garage on a 280 square metre lot. 
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Southern Sydney FHBs spending up to $1 million

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The total value of South Sydney commercial property sales decreased for the quarter to December 2016, according to CoreLogic’s South Sydney Cityscope report.
The property data firm says that 48 sales recorded in the most recent quarter totalled $411.3 million.
This compares to the $512.7 million from 58 sales in the quarter to September 2016 and the $276.7 million from 39 sales recorded in the quarter to June 2016.
In total there were 196 sales totalling $1.487 billion over 2016, an increase from the $1.260 billion from 403 sales recorded for the previous year.
The table below shows sales recorded for the past eight updates of South Sydney Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/01/23/South%20Sydney-1.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/23/South%20Sydney-1.jpg" alt="">
Notable sales in the December 2016 update of South Sydney Cityscope include:
<ul>
<li>Alexandria Creative Park, also known as <a href="https://www.realcommercial.com.au/property-offices-nsw-alexandria-501462611" target="_blank">The Mill at 41-43 Bourke Road, Alexandria</a> (pictured above), a 20,176 square metre business precinct comprising 10 commercial buildings, an on-site cafe and one three-storey car park building on an 18,930 square metre site, which sold through a mortgagee sale for $110.2 million;</li>
<li>Pullman Sydney Airport, at 191 O’Riordan Street, Mascot, a 12-storey, five-star hotel, with 229 guest rooms, restaurant, bar and conference facilities, completed in June 2016, which sold for $84 million; and</li>
<li>Kent Business Park, at 55 Kent Road, Mascot, a complex of five high-clearance two-storey warehouse units with small two-storey office sections, and parking for 94 cars on a 11,950 square metre site, which sold for $30 million.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/01/23/South%20Sydney-2.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/23/South%20Sydney-2.jpg" alt="">
Properties listed as for sale in the December 2016 update of South Sydney Cityscope include:
<ul>
<li>Three adjoining properties in Rosebery – at 12-20 Rosebery Avenue, consisting of a modern two-storey office building extending to high-clearance warehouse to Dalmeny Avenue and a smaller building, a high-clearance warehouse with two-storey office section and car space in a paved yard; at 108 Dalmeny Avenue, consisting of a modern two-storey office building and a yard for parking (25 cars) and warehouse access; and at 22-40 Rosebery Avenue, consisting of two high-clearance warehouses with two-level office sections (Building A and Building B), built around 1985; with a combined site area of 15,198 square metre are is available through Colliers International Sydney South;</li>
<li>563-567 Gardeners Road, Mascot, a development site of 948 square metre currently with a two-storey brick building with showroom on ground level and first floor offices and parking to the rear, available through Taylor Nicholas South Sydney; and</li>
<li>96A Denison Street, Hillsdale, consisting of a vacant land and to the rear, a two-storey building with parking space on the ground floor and offices above on a 4,166 square metre site, available through Cushman &amp; Wakefield Sydney.</li>
</ul>
Leasing opportunities in the December 2016 update of South Sydney Cityscope include:
<ul>
<li>1-3A Ricketty Street, Mascot, consisting of an older single-storey brick and corrugated iron warehouse with a two-level office extension and a newer high-clearance warehouse/factory building with a two-level office extension, to the north of the site, which has warehouse and office space ranging from 745 to 1,824 square metre available in Tenancy B and D for lease through Collier’s International Sydney South;</li>
<li>Alexandria Industrial Estate, at 35-39 Bourke Road, Alexandria, consisting of ten single and two-storey high-clearance warehouse buildings with office areas built in 1985 with total building area is 43,600 square metre, comprising 3,826 square metre of office space and 39,774 square metre of warehouse space, has office space of 2,405 square metre in Unit C1 available through Knight Frank Sydney South, JLL Mascot, CBRE South Sydney and Goodman Industrial and</li>
<li>Part of the Lakes Business Park at 2-12 Lord Street, Botany, a complex of office and warehouse buildings, with surrounding on-grade parking areas and a two-level car park, total building area of 48,411 square metre over seven main buildings, which has floor area ranging from 225 to 1,180 square metre available through Dexus Property Group and JLL Mascot.</li>
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South Sydney commercial property sales fall in final months of 2016: Cityscope

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The latest research from South Sydney Cityscope shows property sales for the quarter to September 2016 have increased in terms of total value, according to CoreLogic's latest report.
Sales recorded in the most recent quarter totalled $512.7 million from 58 sales, as compared to the $276.7 million from 39 sales in the quarter to June 2016 and the $286.9 million from 51 sales recorded in the quarter to March 2016.
This quarter brings the twelve-month total value of sales to $1.447 billion from 214 sales, an increase from the $1.111 billion from 400 sales recorded for the previous year.
The table below shows sales recorded for the past eight updates of South Sydney Cityscope.
<a href="/images/2016/09/23/South%20Sydney%20Score%20Card.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/23/South%20Sydney%20Score%20Card.jpg" alt="">
Notable sales in the September 2016 update of South Sydney Cityscope include:
<ul>
<li>Metrolink Corporate Park, comprising Tower A at 201 Coward Street, Mascot and Tower B at 197A Coward Street, Mascot, two seven-storey office and retail buildings providing net lettable areas of 12,700 sqm and 10,253 sqm respectively; together with 299 car spaces and 245 car spaces respectively in the 12-level car park building at 197 Coward Street, Mascot, which sold for $143.4 million; 
</li>
<li>17 O’Riordan Street, Alexandria, a four-storey office building with warehouse and laboratory facilities above basement parking for 97 cars with a net lettable area of 11,907 sqm, which sold for $112.9 million; and 
</li>
<li>Euston Business Park at 215 Euston Road, Alexandria, a four-storey office building with a large high-clearance warehouse to the rear and basement parking, providing 7,577 sqm office spaces and 6,873 sqm warehouse spaces, which sold for $92.5 million.</li>
</ul>
<a href="/images/2016/09/23/South%20Sydney%20Quarterly%20Sale.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/23/South%20Sydney%20Quarterly%20Sale.jpg" alt="">
Properties listed as for sale in the September 2016 update of South Sydney Cityscope include:
<ul>
<li>Alexandria Creative Park at 41-43 Bourke Road, Alexandria, also known as The Mill, a 20,176 sqm business precinct comprising 10 commercial buildings, an onsite cafe and a three-storey car parking building on a site of 18,930, is available through CBRE; 
</li>
<li>A high-clearance workshop with mezzanine office building on a 949 sqm site at 50-54 McCauley Street, Alexandria, which is scheduled for auction on 13 October 2016 through Colliers International Sydney South; and 
</li>
<li>Unit 9 at 8-10 Burrows Road, St Peters, a 244 sqm two-storey industrial unit with two car parking spaces, which is scheduled for auction on 20 September 2016 through Raine &amp; Horne.</li>
</ul>
Leasing opportunities in the September 2016 update of South Sydney Cityscope include:
<ul>
<li>Office space ranging from 400 sqm to 5,000 sqm in the development at 289 King Street, Mascot, for pre-lease through Knight Frank. The proposed building will comprise a 13-storey building with a 246-bedroom hotel, six office floors, retail space and a 5-storey car park; 
</li>
<li>60 O’Riordan Street, Alexandria, comprising a two-storey office building and two high-clearance warehouse buildings with 100 car parking space on a site of 7,666 sqm, which has 4,589 warehouse space for lease through Link Property Services; and 
</li>
<li>The Solvay Interox Banksmeadow site at 18-22 McPherson Street, Banksmeadow, a chemical and solvents plant, including distillation towers, a high-clearance metal fabricated factory building, a two-storey brick office building and several small brick offices on a site of 43,680 sqm, which has warehouse space of 3,168 sqm available through JLL Mascot.</li>
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